ARMENIA'S MONEY SUPPLY GROWS BY 3.3% IN JULY 2008

ARKA
Sep 22, 2008

YEREVAN, September 2. /ARKA/. Armenia's money supply totaled 426.2bln
drams - 3.3% (13.5bln drams) increase, the RA National Statistical
Service (NSS) says, referring to the Central Bank of Armenia (CBA).

Armenian drams in cash outside CBA totaled 356.3bln drams as of
end-July against 343.3bln drams earlier that month. Required dram
reserves were worth 28.57bln drams in July against 28.61bln drams
in June.

Required foreign-currency reserves totaled 40.4bln drams as of end-July
against 39.96bln drams in late June.

Net international reserves (without privatization receipts) totaled
425.2bln drams in July - 1.8% (7.4bln) month-on-month growth. Red
ink of net internal assets totaled 1.031bln drams in July against
5.097bln drams in June (18.8bln in early 2008).

Armenia's money supply has decreased by 0.2% since January. ($1 -
302.44 drams).